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GOLD Market Update: Trends and Strategic InsightsGold has surged to approximately $2,383 on Thursday, reflecting ongoing market expectations of impending interest-rate reductions. Federal Reserve Chairman Jerome Powell, in his recent testimony to US lawmakers, has artfully balanced cautious optimism regarding inflation moderation and the pursuit of a soft-landing scenario that avoids significant job losses. Powell underscored the Fed's commitment to a vigilant, data-driven approach to inflation dynamics. Our analysis points towards an intriguing development as Gold nears a critical supply area around $2,400. Here, we've identified a potential reversal pattern amidst bearish positioning by the Commercials. Observing what could be a triple top formation, market conditions suggest a pivotal juncture where the price might pivot. As Gold continues its ascent amid evolving economic cues, staying attuned to these market signals becomes crucial for anticipating potential price movements and strategic positioning. ✅ Please share your thoughts about GOLD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
OANDA:XAUUSDShort
by FOREXN1
1
Falling towards 50% Fibonacci support?The Gold (XAU/USD) is falling towards the pivot and could potentially bonce to the 1st resistance. Pivot: 2,367.73 1st Support: 2,355.13 1st Resistance: 2,391.09 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDLong
by ICmarkets
GOLD (Bullish continuation above Pivot Line)Technical Analysis: Gold The price pushed up and reached our target we mentioned which is 2387, and then dropped. Current Outlook: The trend should stabilize above 2358 to be a bullish trend toward 2365, but stabilized under 2356.6 means will touch 2342 Bullish Scenario: As long as the price trades above 2356, it is likely to maintain a bullish trend towards 2364. A break above 2378 could extend the bullish trend to 2392. Bearish Scenario: A 4-hour or 1-hour candle closing below 2356 would indicate a downtrend, with the price expected to trade in the bearish zone between 2343 and 2337 Key Levels: - Pivot Line: 2358 - Resistance Levels: 2365, 2378, 2397 - Support Levels: 2342, 2320, 2311 Today's Expected Range: The price is anticipated to move between the support at 2342 and the resistance at 2379, with a bullish tendency. previous idea:
OANDA:XAUUSDLong
by SroshMayi
No bigger driver for Gold than inflation this week? This week's economic calendar is dominated by US inflation data, with the Consumer Price Index (CPI) and Producer Price Index (PPI) set for release. Expectations are for a further decline in inflation, potentially strengthening the case for multiple Federal Reserve interest rate cuts this year. Economists polled by Reuters forecast annual consumer price inflation to have eased to 3.1% in June, down from 3.3% in May. An interesting development today: Federal Reserve Chair Jerome Powell, in his appearance before the Senate Banking, Housing, and Urban Affairs Committee, expressed concerns about the potential risks of maintaining high interest rates for an extended period, which could threaten economic growth, CNBC reported. For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. Gold prices edged higher, with XAU/USD trading at $2,364, up over 0.25%. The first resistance level for gold could be July 5 high at $2,392. On the downside, if nearer support levels fail, the next support zone could be the May 3 low of $2,277.
BLACKBULL:XAUUSD
by BlackBull_Markets
GOLD - Price can exit from wedge and fall to $2320 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to pennant, where it bounced from resistance level and rose to resistance line of pennant. After this, price made downward impulse lower $2375 level, breaking it and then rose to this level again. Price fell to support line of pennant, after which in a short time rose to almost resistance level, exiting from pennant. Then price started to trades inside wedge, where it first declined to support line and then bounced up to $2375 level. Gold made a fake breakout of this level, after which started to decline, and now it trades near support line of wedge. Possibly, Gold can rise to resistance level and then bounce down to $2320, exiting from wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
3
GOLD (Got it 2357 and still continue)Technical Analysis: Gold The price pushed up and reached our target we mentioned yesterday which is 2357, and already stabilized above it. Current Outlook: The trend remains bullish today, with the price stabilizing above 2357. As long as it stays above these levels, it is expected to reach 2378. Bullish Scenario: As long as the price trades above 2357, it is likely to maintain a bullish trend towards 2365. A break above 2365 could extend the bullish trend to 2378. Bearish Scenario: A 4-hour or 1-hour candle closing below 2357 would indicate a downtrend, with the price expected to trade in the bearish zone between 2343 Key Levels: - Pivot Line: 2357 - Resistance Levels: 2365, 2378, 2397 - Support Levels: 2343, 2337, 2320 Today's Expected Range: The price is anticipated to move between the support at 2354 and the resistance at 2365, with a bullish tendency.
OANDA:XAUUSDLong
by SroshMayi
HelenP. I Gold can correct to support level and then rebound upHi folks today I'm prepared for you Gold analytics. A not long time ago price declined to support 2, which coincided with a support zone, and then at once rebounded up to support 1, which coincided with one more support zone. After this movement, the price turned around and made impulse down to support 2 and even lower than this level, thereby breaking it. Also, the price reached the trend line and then started to grow in an upward channel, where it broke support 2 one more time and later reached the resistance line of the channel. After this movement, the price made correction to the support line of the channel, which is the trend line also, and then rebounded up almost to support 1, thereby exiting from the channel. Later XAUUSD broke this level and continued to rise, until it reached 2392 points, after which it made a correction movement to one more support zone. Now, price trades near this area and I expect that XAUUSD will fall to the support level and then rebound up, therefore I set my goal at 2400 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSD
by FirstNameHelen
2
GOLD to find buyers at 61.8% pullback?Gold - 24h expiry Buying continued from the 61.8% pullback level of 2372.6. Yesterday's Marabuzo is located at 2374. Preferred trade is to buy on dips. Dip buying offers good risk/reward. Price action continues to trade around significant highs. We look to Buy at 2373.5 (stop at 2361.5) Our profit targets will be 2403.5 and 2410.5 Resistance: 2392.9 / 2398.5 / 2415.0 Support: 2380.8 / 2370.0 / 2355.0 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAUUSDLong
by OANDA
XAUUSD H4 - Sell Signal $2900/ozXAUUSD H4 On Friday, XAUUSD experienced significant movement, as those actively trading the markets would have observed. After a sharp drop, it rebounded aggressively and continued to rise throughout the day. The area around $2390-$2395/oz is a major resistance zone. This resistance level presents an opportunity for potential short positions, whether today or later this week, depending on market conditions. Alerts are set for this key resistance price, allowing us to wait patiently for the notification to trigger. We will be looking for an intraday opportunity today for the $10,000 challenge if we can't see this swing opportunity unfold today.
FX:XAUUSDShort
by Trade_Simple_FX
Could Gold reverse from here?The price has reacted off the resistance level which is a pullback resistance that aligns with the 127.2% Fibonacci extension and could potentially drop from this level to our take profit. Entry: 2,392.46 Why we like it: There is a pullback resistance that aligns with the 127.2% Fibonacci extension. Stop loss: 2,409.47 Why we like it: There is an overlap resistance level. Take profit: 2,364.45 Why we like it: There is a pullback support level which aligns with the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDShort
by VantageMarkets
Could Gold fall from here?The price is currently reacting off the pivot and could drop to the pullback support. Pivot: 2,392.08 1st Support: 2,364.99 1st Resistance: 2,413.42 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDShort
by ICmarkets
Gold can break support level and fall to support line of channelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price made impulse down from the resistance line of the pennant lower than the current support level, which coincided with the support area, thereby breaking it. After this, the price some time traded and then rose back to the support area, where it reached the resistance line of the pennant and then rebounded down to the support line, breaking the 2310 level, but soon Gold rose higher this level, breaking it one more time. Then it in a short time rose to the resistance line of the pennant, turned around, and fell to the support line, after which the price exited from the pennant pattern and declined to lower the 2310 level again. But then Gold started to grow inside the upward channel, making a fake breakout of the support level, which coincided with the buyer zone and later it rose to the current support level. A not long time ago, XAU broke this level and now it trades very close to the 2390 level, near the resistance line of the channel. For this case, I think that the price can make a small correction movement, and then reach the resistance line, after which starts to decline to the support line of the channel, breaking the support level. So, that's why I set my TP at 2360 points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
5
XAU/USD H1 Channel Formation The XAU/USD pair on the H1 timeframe presents a potential selling opportunity due to a recent formation of well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. OANDA:XAUUSD Key Points: Sell Entry: Consider entering a short position around the current price of 2357, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2328 2nd Support – 2309 Stop-Loss: To manage risk, place a stop-loss order above 2370. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
FOREXCOM:XAUUSDShort
by KABHI_FOREX_TRADING
7
GOLD Amid NFP movement scenarios (Sensitivity!!!)Technical Analysis: Gold The price pushed up and reached our target we mentioned yesterday which is 2365, and already stabilized above it. Current Outlook: The trend remains bullish today, with the price stabilizing above 2356. As long as it stays above these levels, it is expected to reach 2378. Bullish Scenario: As long as the price trades above 2356, it is likely to maintain a bullish trend towards 2378. A break above 2378 could extend the bullish trend to 2392. Bearish Scenario: A 4-hour or 1-hour candle closing below 2356 would indicate a downtrend, with the price expected to trade in the bearish zone between 2343 and 2337 Key Levels: - Pivot Line: 2361 - Resistance Levels: 2378, 2387, 2397 - Support Levels: 2356, 2342, 2320 Today's Expected Range: The price is anticipated to move between the support at 2342 and the resistance at 2379, with a bullish tendency. NOTE: Today NFP will affect the GOLD market NFP Scenarios: - Previous Result: 272K - Expectation: 191K If the NFP release is less than 191K, the Gold Market will follow a bullish scenario. Conversely, a result exceeding 191K, particularly around 250K, would likely lead to a bearish scenario. previous idea:
OANDA:XAUUSDLong
by SroshMayi
1
GOLD - Price can bounce from resistance area and continue riseHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price declined to support level, which coincided with support area, and at once started to grow. In a short time, Gold reached $2360 level and even entered to resistance area, but soon bounced down. Also, price entered to pennant, where it declined from resistance line to support line, after which started to rise. Price broke $2310 level and later exited from pennant, after which in a short time reached $2360 level again. A not long time ago Gold broke this level and now trades in resistance area, so, I think it can make little correction. After this, price will turn around and continue to move up to $2395 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2